Illustration :

Mr. X made following supplies during the preceding financial year:

Inter-state sale of goods                                             : Rs. 50 Lacs

Intra-State Sale of Goods                                            : Rs. 45 Lacs

Exports                                                                            : Rs. 10 Lacs

Sale of exempted goods                                             : Rs. 30 Lacs

Inward supplies liable to reverse charge                : Rs. 20 Lacss

Will he be eligible to opt for composition levy scheme during the current financial year? Discuss.

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