Trail of queries on rule change

For most exporters, the amount of IGST to be refunded might be much higher than the exemption they'd availed of on the import under advance authorisation

Exporters hit by a retrospective amendment to Rule 96 (10) of the Central Goods and Services Tax Rules, 2017, have many questions.

The change denies any refund of Integrated Goods and Service Tax (IGST) paid on exported goods, if the exporter had imported the inputs under advance authorisation without payment of IGST, under notification 79/2017-Cus dated October 13 last year.

What happens to the refunds already granted? Will penalties be levied for wrongfully claiming these?  Will all the refunds have to be given back, with interest? If so, what is the procedure? If the refund is surrendered after filing the annual return