Hi

1. Research on various entrance tests i.e. which test is used for which colleges. Like CAT is used for IIMs and many other colleges. XAT is used for XLRI etc. SNAP for SYMBIOSIS University colleges. NMAT for NMIMS. If you want to do the MBA from colleges of your state then give CMAT, MAT, ATMA etc.
2. Usually the timelines of these exam start from/after September till February. Colleges start in June/July.
3. Plan your preparation & timelines for entrance exam - identify if you need coaching. The time period to get fully prepared for an exam depends on which exam you shall be taking. Quality of preparation and not Quantity of months will determine your performance in the exam. Students usually start coaching & preparation before 1–1.5 years of exam date.
4. After giving exam you have to fill the forms of the colleges you aspire to get into. Yes, there are individual forms for good colleges to be filled up.
5. Based on your score the colleges call for Group Discussion (GD)/Written Ability Test(WAT)/Group Exercise (GE) - any one of these and the Personal interview. Good colleges have these stages. State colleges may / may not have these stages and admission is based on merit/marks in entrance exam.
6. Once selected, pay the fees through loan or your personal financing. If you take a loan then the payback period of loan to bank is mostly around 5–6 years, assuming a decent college.

Hope this helps !