Excise exemption for feature film prints limits duty on initial theatrical prints and adjusts rates for colour, length, and format. Notification establishes slabbed excise duty limits for feature film prints and advertisement/short films under Heading 37.05, exempting initial theatrical prints and imposing progressively higher slab rates thereafter, with distinct rates for black-and-white and colour films. Films cleared after twelve months face different flat rates. Films exceeding four thousand metres incur a surcharge; narrow-gauge films receive reduced or nil duty depending on clearance timing and category; exported prints are excluded. A film with colour portion up to one-fifth is deemed black and white, length excludes censor-certified portions, and eligible print counts include prints cleared before the notification's publication.