Retrospective DEPB credit rates require express authority; absent that, later export incentive enhancements cannot apply backwards.

DEPB credit rates fixed by public notice under the foreign trade regime operate from the date of notification unless the enabling policy or provision clearly authorises retrospectivity. Paragraph 7.50 of the Handbook was held inapplicable because it addresses exports made in anticipation of a rate where no rate has yet been notified, not cases where notified rates already existed. The later enhancement of the rate to 15% was treated as a policy matter, and no implied power existed to extend it retrospectively. The challenge failed and retrospective DEPB credit at 15% was refused.

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Issues: Whether the petitioners were entitled to have the DEPB credit rate of 15% applied retrospectively from 1 April 1997 although it was notified only on 31 March 2000.

Analysis: The DEPB credit rate is fixed by public notice under the Foreign Trade Policy and operates only from the date of notification unless the policy or enabling provision expressly provides for retrospectivity. Paragraph 7.50 of the Handbook was held inapplicable because it governed exports made in anticipation of a credit rate where no rate had yet been notified, whereas the petitioners' product had already been covered by notified rates. The subsequent enhancement of the rate to 15% was treated as a policy matter, and the delegate had no implied power to give the rate retrospective effect in the absence of express authority. The Court also noted that fixation of such rates involves policy considerations and is not ordinarily open to judicial interference.

Conclusion: The petitioners were not entitled to retrospective application of the 15% DEPB rate, and the challenge to the impugned order failed.

Final Conclusion: The writ petition was dismissed and the respondents' refusal to grant retrospective DEPB credit rate was sustained.

Ratio Decidendi: In the absence of express statutory authority, delegated legislation or policy notifications cannot be given retrospective effect by implication, particularly in matters of export incentive rates fixed under the foreign trade regime.

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