@kmsravindra I used cranberry's plugin for IAP. I'm building with the Intel XDK, target is iOS8.
I followed Ashleys' tutorial, here: https://www.scirra.com/manual/173/iap
which give a few pointers. With some playing around I got it to work. Cranberry has a sample capx with his plugin which is a useful guide too.
Make sure you sign out of your iTunes account on the device so you are prompted to login with your test account when you try to make a purchase.
In the CAPX make sure to add the product and then request the store listing at the start of the layout. Also check the store is available before making a purchase. Store the purchased products in Web Storage so the App remembers what non-consumable was purchased.