Shares of Eicher Motors were trading in the red and 2% lower on 1 January after the company announced receiving demand orders from Punjab, Chennai, and Jaipur worth Rs 130 crore.

In its regulatory filing, the company said, “Eicher Motors has received demand orders from the Office of the Principal Commissioner of CGST and Central Excise-Chennai, the Office of Excise and Taxation Officer cum State Tax Officer-Punjab and the Office of Central Goods & Service Tax Commissionerate-Jaipur.”

For the fiscal year 2017-18, the officer has disallowed specific GST credits and raised a GST demand, primarily due to a disparity in GST credit matching between the company’s GST availment and the information provided by suppliers in their GST returns.

The filing added, “Non-reversal of input tax credit on material returned instead of output tax liability paid by the Company.”

The company said that they are evaluating all options, including filing for an appeal against the order, and further said that this will not have any relevant impact on the company’s financials, operations, and other activities.

At 1:52 pm, the shares of Eicher Motors were trading 2.39% lower at Rs 4,044.45 on NSE.