General insurance business treated as taxable after review: DICGC activities attract service tax under existing law. DICGC's insurance activity falls within Section 65(105)(d) of the Finance Act, 1994 as general insurance business and is chargeable to service tax. Section 36(1)(e) of the General Insurance Business (Nationalization) Act evidences legislative treatment of DICGC as insurance business; definitions incorporated into the Finance Act apply as part of that Act. The Corporation's functions qualify as 'business' in fiscal context, and statutory transactions arising from mandatory registration are to be treated as contractual, satisfying the requirement of effecting insurance contracts.