Swetha, that is a pretty good Academic profile that you have putup for yourself. If you can manage to score atleast 90-95%, you can get a very good B-School in CAT. Now regarding the gap year, all the IIMs and most B-Schools look at the diversity factor. There is Gender Diversity and Academic Diversity factor. The Institutions need someone who can bring variety to the table. So if you can come up with something creative during this period like taking up a course or a volunteering service or something in the similar tables, it will boost your profile. Having said that, a gap year doesn't affect your chances in any manner whatsover.