Determination of date from which the amount or rate of drawback is to come into force and the effective date for application of amount or rate of drawback [Rule 5] :
(i) The Central Government will specify the period of validity for the drawback.
(ii) Retrospective effect – from the date of notification.
(iii) The rate must be determined under section 16 or under section 83(2).
Government annually notifies ALL INDUSTRY RATES in the form of a Drawback Schedule, after the announcement of the Union Budget.