is there any way we can assign some specific IP on mikrotik to be able to connect to internet without restrictions and some IP that has limited access?
clarkstyx -
Yes there sure is… Go to the MT manual, look up the Firewall section - specifically mangle. There it will give you examples on how to mark connections/packets. Once you have the packets marked, proceed over to the Queue portion of the MT manual, there it gives examples on how to limit traffic using queues and packet marks. The MT Wiki is also a fountain of information…
R/
Yes. There are lot of options in MikroTik.
One of the option to use /ip firewall filter, where you can create different policies for different IP addresses, what is allowed and what is not.