Morpankh Pvt$.$ Ltd$.$ of Assam, engaged in trading of goods had Turnover consisting of sale of taxable goods of $140$ lakhs, sale of exempt goods of $10$ lakhs and interest on FD of $2$ lakhs during the Financial Year $2023-24.$ During the Financial Year $2024-25,$ are they eligible to opt for composition levy?

If yes, compute their tax liability from the following details of sales for the year $2024-25$:

a$.$ Sale of Taxable goods: $120$ lakhs

b$.$ Sale of Exempted goods: $10$ lakhs

c$.$ Interest received on Fixed Deposits: $3$ lakhs

d$.$ Intra state supply of services: $14$ lakhs.

Also, what would be your answer if it was not a trader but a manufacturer?