Refund Google Play apps but haven't got my money back I had purchased a game on Google Play but later I realized that it was too bad, so I requested a refund. I've received a refund email from Google but I haven't received my money back. Is that a problem? 

When I opened the Payment History page, it writes Canceled next to that game. I purchased that game using my phone bill.
No

It's not a problem. Sometimes it takes time to refund. It's happened to me earlier.

Nothing to worry about since you got your confirmation mail as also transaction is cancelled

If you wish to be doubly sure, you can call or chat with Google help from the Google Play Settings &rarr; Help and feedback

Edit: Just stumbled on this from 
Google Play Refund help. 
If the status shows cancelled it means


  If the status is "Cancelled," the order was never charged and so you will not see a credit on your form of payment. 


There is also a detailed table for refund timelines. Summary below :


Credit or debit card - 3 to 5 business days
Direct carrier billing (prepaid / pay-as-you-go) - 1 to 30 business days
Direct carrier billing (postpaid / contract) - 1 to 2 monthly statements
Google Play balance (gift card or credit balance or Google wallet - one business day
Online Banking - 1 to 10 business days
PayPal - 3 to 5 business days