Sometimes it takes a while for Google's servers to understand that you actually launched a new IAP item. What you can do is:-
1)Sign and export your apk and then upload it as draft . Using the same apk test it locally.
2)Also I recommend using the updated Billing v3 API. The previous v3 had some bugs and it hence has been fixed.
3)Wait and watch. You'll find the item in some hours....
I've had this experience with this.
Pls Give a thanks if this post helped you!
Sent from my Nexus 4 using XDA Premium 4 mobile app