NIFT Entrance Exam Selection Process

Yes, but there is certain term for withdrawal of seat after admission and refund of fee:
(i) A candidate, who has taken admission once and then withdraws, will not be considered for admission during subsequent rounds of seat allocation.
(ii) In case the candidate is seeking refund before commencement of academic session, the request for withdrawal of admission may be submitted through online portal. After commencement of the academic session, refund request may be submitted in the prescribed format to the Director of the Campus allotted to the candidate. The candidates will be required to surrender the original Admission Receipt issued at the time of Seat Allocation/Admission while applying for withdrawal of admission. Requests for withdrawal of admission will not be entertained without original admission receipt. (iii) The refund against withdrawal of seat will be governed as per refund policy.