In this work, we obtain lower and upper bounds on the maximal transmission rate at a given codeword length $n$, average probability of error $ε$ and power constraint $\bar{P}$, over a finite valued, block fading additive white Gaussian noise (AWGN) channel with channel state information (CSI) at the transmitter and the receiver. These bounds characterize deviation of the finite blocklength coding rates from the channel capacity which is in turn achieved by the water filling power allocation across time. The bounds obtained also characterize the rate enhancement possible due to the CSI at the transmitter in the finite blocklength regime. The results are further elucidated via numerical examples.