I loved the hypothetical example someone cites in the article.
"Assuming that Rs10 is the additional cost [transaction fee charged by money transfer agent] of every Rs 100 that an NRI sends, now only Rs 98.76 will be received for every Rs 100 sent [after reducing 12.36% service tax on Rs10]," Menon said.
What's hilarious about this example is that Mr. Menon has completely ignored the 10 rupees from his calculations. The actual cost of sending Rs. 100 from abroad, according to the example, is Rs.11.34, and not Rs.1.34 as Mr. Menon makes out to be. So the amount received will be Rs. 88.76 and not Rs.98.76.