Since slice doesn't get a real-time update when a customer cancels their order with the merchant, we wait for the cancellation confirmation from merchants. Usually, merchants send confirmation within 7 days, but it varies for different merchants. slice will refund the canceled transaction within 2 working days after receiving the confirmation.
The bill is Converted into installment automatically on the 6th of every month with a default tenure, different for different users. It might be possible that cancellation confirmation is received after the bill is converted into installment for that period.
If the Cancelled order refund came after the amount has been billed and paid, the same refunds will be added to your credit balance directly and the same carry forwarded amount will be adjusted in the upcoming card bill. You can view your credit balance in the profile section on your slice app.