India: Taxes on goods and services
* indicates monthly or quarterly data series
India |
Taxes on goods and services, percent of total revenue |
---|---|
Latest value | 40.87 |
Year | 2018 |
Measure | percent |
Data availability | 1974 - 2018 |
Average | 33.11 |
Min - Max | 21.68 - 44.07 |
Source | The World Bank |
The latest value from 2018 is 40.87 percent, an increase from 37.35 percent in 2017. In comparison, the world average is 38.14 percent, based on data from 135 countries. Historically, the average for India from 1974 to 2018 is 33.11 percent. The minimum value, 21.68 percent, was reached in 2010 while the maximum of 44.07 percent was recorded in 1974.
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Definition: Taxes on goods and services include general sales and turnover or value added taxes, selective excises on goods, selective taxes on services, taxes on the use of goods or property, taxes on extraction and production of minerals, and profits of fiscal monopolies.
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Related indicators | Latest | Reference | Measure |
---|---|---|---|
Government spending, percent of GDP | 10.50 | 2023 | percent |
Government spending, in dollars | 372.71 | 2023 | billion U.S. dollars |
Fiscal balance, percent of GDP | -8.32 | 2023 | percent |
Government debt | 83.02 | 2023 | percent |
Government expenditure | 7,769.20 | Q3/2024 | billion |
Long-term interest rate | 7.01 | 7/2024 | percent |
Tax revenue | 12.02 | 2018 | percent |
Commercial tax rate | 49.70 | 2019 | percent |
Tax preparation time | 252 | 2019 | hours |
Number of taxes | 11 | 2019 | taxes |
Taxes on goods and services | 40.87 | 2018 | percent |
Taxes on international trade | 4.51 | 2018 | percent |
Income and profits taxes | 45.65 | 2018 | percent |
Foreign aid | 2,831.24 | 2022 | million U.S. dollars |