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Hi Jackie it will shoot both.

This M&P15 complete lower receiver from Smith & Wesson is classified as a firearm and must be shipped to a FFL. Caliber: Multi / 5.56 mm NATO / .223 Remington Action: Semi-Auto Stock: 6-Position Collapsible Stock Receiver Material: 7075 T6 Aluminum Receiver Finish: Hard Coat Black Anodized Standard Trigger Group

308 Winchester rifles also accepts 7.62x51 NATO ammunition

It is a 5.56 lower it will not work with .308/7.62 NATO the 5.56 length is 57.4mm Category : Lowers Type : Complete Lower Receiver Gun Model : AR-15 Gun Type : AR Platform Caliber : 223 Remington/5.56 NATO Material : 6061-T6 Aluminum Finish : Black Trigger : Standard ******* here is a good article on whet calibers work on a 5.56 lower https://www.gunsamerica.com/blog/build-an-ar-15-ar-calibers/