Talking to ANI amid the protest against the GST here, Sidhu said, "This Gabbar Singh Tax is economic terrorism, which is spreading in every direction. When traders aren't happy, consumers aren't happy then who is happy with the GST."
The GST is an indirect tax which was introduced across the country on July 1 and replaced multiple cascading taxes levied by the central and state governments.
Terming the new tax regime as a mean to breach the self-reliance of the states, he said, "This is an autocratic system. It is a breach of faith. Rs 3,600 crore of the Punjab government taken (collected) by the Bharatiya Janata Party (BJP) led Centre on behalf of the Punjab government has not been returned to the state," said Sidhu, who currently serves as the Minister of Local Government, Tourism, Cultural Affairs, Archives and Museums of the State of Punjab.
He further alleged that the Centre was enjoying on the interest of Rs. 1 lakh crore of the different states.
"The centre is enjoying the interest of the 1 lakh crore of the different states. This will tantamount to states becoming beggars. We aren't on their mercy and we want it on time. Earlier, about Rs. 2000 used to come in the exchequer of state government in the form of Value Added Tax (VAT), but now the state is forced to borrow loan," Sidhu said.
On November 8, 2016, Prime Minister Narendra Modi announced demonetisation of 500- and 1000-rupee banknotes with an aim to weaken the black money or shadow economy in the country and curb terrorism and left-wing extremism in the country. (ANI)