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.