Composition Levy option preserves simplified tax payment but excludes manufacturers of certain tariff classified goods from eligibility. An eligible registered person may opt for the composition levy instead of tax under section 9, subject to an aggregate turnover ceiling in the preceding financial year and a lower ceiling for eligible persons registered under section 25 in specified States; manufacturers of ice cream, pan masala, and tobacco/manufactured tobacco substitutes are ineligible. The notification relies on the First Schedule to the Customs Tariff Act, 1975 for tariff classification and interpretation and supersedes the earlier SRO.