Transfer Pricing and Related-Party Transactions under Customs Law: Harmonization?

Recently, there has been much talk about harmonizing the regime of transfer pricing and related-party transactions under customs law, at the international as well as the national level. An understanding of the differences between the two existing regimes is required to proceed further with harmonization thereof. This article considers the relationship between the two regimes, specifically from an Indian perspective and, in the context of harmonization, makes note of certain basic, inherent contradictions between the two regimes.