B.A

Obviously, it makes a huge difference, studying in an ordinary college and studying in a National Law University. Though, if you want to shape up your career in corporate then go for NLUs otherwise you can opt to study in any college. Other than NLUs you can also get admission in some renowned colleges of the country like Symbiosis etc., for that you need to appear in entrance exam. So, make choice according to your future goals.
All the best!

You will face challenges in getting admission in MBA because you do not meet eligibility criteria in majority of B-Schools or universities.

Yes, you are eligible for doing CA after completing your Bachelors in arts.