In an effort to reduce the risks associated with the purchasing games on Steam, Valve has announced a new refund policy. The policy now offers a 14-day refund window for any reason, as long as you have played the purchased content for less than 2 hours. This policy applies to all games and DLC purchased through the Steam store. That means that if you have purchased a game that your computer can not play, or DLC that you find underwhelming, you can easily be refunded the purchase price.
In addition to games and DLC, in-game items purchased for Valve games, such as all those Counter-Strike: Global Offensive crate keys you shouldn’t have bought, have a 48-hour window for returns, as long as you don’t consume, modify, or trade them. However, users who have been banned from a game by the Valve Anti-Cheat (VAC) system lose the right to refunds relating to that game.
One especially appealing component of the new refund policy centers on pre-purchases: when you buy a game in advance of its release, you can get a refund at any point prior to the release. Once released, the 14-day/2-hour policy kicks into effect. No longer does a title that does not live up to its hype have to cost you money. Valve reports that refunds should be issued within a week of approval and will be applied back to the payment method used for the purchase.
Full details can be found: Here.