"It (GST) has been supported by most political parties and I am sure others will also see reason and this law will become a reality very soon", the minister said while inaugurating the two-day India Investment Summit here.

He said the government is also working on streamlining the direct taxation system.

"We want to rationalise our direct tax system in order to make it one of the most competitive regimes in the world comparable with what competitive economies elsewhere have", Jaitley added.

He further said reform is a continuous process and there is no finishing line for that as it has to go on and on because challenges keep coming up.

GST, which will subsume all indirect taxes such as excise duty, service tax and sales tax into one uniform rate, is stalled in the Rajya Sabha as the Congress is pressing for three changes.

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