I had booked a flight from Delhi to Mumbai on GoAir, which I unfortunately had to cancel. As the tickets were booked online through credit card, I cancelled the same using their website. After several days when I didnot receive the refund in my credit card account, I contacted the call center. To my surprise they mentioned that they dont have a refund policy and istead issued me couchers with one year validity. As the GoAir flight schedule are quite poor as compared to other airlines, I didnot had the opportunity to fly with GoAir and the vouchers expired.
The things to note here are that they dont mentioned it at the time of booking that if you cancel the tickets online then you are not entitled to money refund. How surprising is that. I would suggest you to fly with other carriers such as Spicejet and Indigo who dont tend to cheat customer with refunds.