CHENNAI: The exchequer will suffer a loss of Rs 1,724.43 crore if exemption is granted to the lorry owners from payment of Motor Vehicles Tax, the State submitted in its counter-affidavit filed before a division bench of the HC on Tuesday. The counter was filed in response to a PIL from the Tamil Nadu Lorry Owners Federation in Kolathur seeking to quash an order dated May 14 of the Home (Prohibition & Excise) department, which extended the grace period till June 30 and direct it to consider their representation dated April 16 to exempt its members from payment of the tax.