Hello Bhawna,
Counselling takes place so that the candidate/student is aware of about the various courses offered by different colleges. Several colleges take part in the counselling process; hence the student has to register himself/herself for the process, stating the choice of choice of college and course. Hence, it is advisable to go for it. There is no harm in it, if nothing else, you will better idea of what to expect and what to go for.
The following is the usual process of counselling
Round 1
Registration and choice filling
Verification of reserved category certificates at designated centres
Seat allotment
Payment of Fees
Freezing of allotment
Withdrawal of admission

Round 2  
Choice Change after payment of fees for the first round
Seat Allotment
Printing Allotment/ offer letter and part academic fee payment
Freezing seat allotment
Admission withdrawal

Round 3
Choice Change after payment of fees for the second round
Seat allotment
Payment of Fees
Printing of Provisional seat allotment letter
Reporting to allotted Institute
Display of Open House Counselling if required
Open House Counselling/ Spot Counselling

PS: This is the counselling process for IPU CET and can vary depending on the exam

Hope this has cleared your doubt