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Axis Magnus: how is milestone calculated for refunds processed in a different month from spend

spicedlatte

TF Buzz
I have a flight booking of 80k that I need to cancel. I have already met the 1L monthly milestone even if I exclude this flight spend.

My concern however is regarding which month the adjustment will happen for milestone calculation since the refund is likely to be processed next month and not today which is the last day of Feb. If adjustment happens next month that probably means I will need to spend 1.8L to get the milestone next month.

I am well aware no one here might not know for sure, but any insight will be helpful to plan my spends.
 
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