In the post he posted, Muslims are directly belittled. No religion teaches to belittle other religions. He is a future star of Indian cricket never expected such a post from him. When he posted after posting everyone criticized him a lot for this post he later said his account was hacked but within moments how he got back the hacked account. I think since he is a cricketer his limit should be within cricket. He has very little knowledge about religion so he posts like this. One can never highlight one's own religion by downplaying other's religion. He must be suspended for what he did.
Words and action doesn't add up. Humans make mistakes. It takes a lot of courage to say "sorry". In this case, if he had apologized, then the matter would have been closed. But he became over-smart. At first he put a status claiming that it was a genuine mistake and he is sorry for that. Then probably his lawyer or legal adviser asked him to claim that his account was hacked. And within 5 minutes or so, he retracted his apology, and claimed that he did nothing wrong. I don't know whether anyone is stupid enough to say whatever lies coming out of his mouth. I don't expect any action from GT. The BCCI should suspend him for a couple of years from the IPL and domestic cricket.