[android help] Android IAB V3 Querying owned items returns positive but on consume returns item not owned

Android IAB V3 Querying owned items returns positive but on consume returns item not owned

I have implimented android IAB V3 in my app. On querying for owned items immediately after purchasing and consuming an item, IABHelper returns that I still own the item. But on calling consume it returns that item is not owned. I am giving my logcat output below.

04-19 15:57:43.668: D/IabHelper(2757): Starting async operation: refresh inventory
04-19 15:57:43.678: D/IabHelper(2757): Querying owned items...
04-19 15:57:43.688: D/IabHelper(2757): Package name: com.games.mygame
04-19 15:57:43.688: D/IabHelper(2757): Calling getPurchases with continuation token: null
04-19 15:57:43.728: D/IabHelper(2757): Owned items response: 0
04-19 15:57:43.758: D/IabHelper(2757): Sku is owned: com.games.pack1
04-19 15:57:43.768: D/IabHelper(2757): Continuation token: null
04-19 15:57:43.768: D/IabHelper(2757): Querying SKU details.
04-19 15:57:43.838: D/IabHelper(2757): Got sku details: SkuDetails:{"title":"Coin Pack 1 (My Game)","price":"Rs. 105.69","type":"inapp","description":"Pack of 50000 coins.","productId":"com.games.pack1"}
04-19 15:57:43.838: D/IabHelper(2757): Ending async operation: refresh inventory
04-19 15:57:46.931: D/IabHelper(2757): Ending async operation: 
04-19 15:57:46.931: D/IabHelper(2757): Starting async operation: consume
04-19 15:57:46.931: D/IabHelper(2757): Consuming sku: com.games.pack1, token: wykaaffjpwmehhfdkgmzsbpb.AO-J1OxWZjidethjntgfks3C1tpo6TfiMgWyAc8ycTZWsr7UcaHidKIFRaH-K6L_aa2SYGFc3mq8kLBVajj3mtXQcw8oy8-GAT8aSBLJA_aP3AsnjEKSQ1Ot0OqTBDKJWRduiz
04-19 15:57:47.642: D/IabHelper(2757): Error consuming consuming sku com.games.pack1. 8:Item not owned
04-19 15:57:47.642: D/IabHelper(2757): Ending async operation: consume

I have to wait few minutes before I can purchase this item again. Is this because of Local Caching by google play. Has anyone encountered this issue before. Can anyone tell me what might be going wrong and how it can be fixed.

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