Colleges in Jabalpur

Yes, of course.
If you have sufficient marks in JEE, then by the inter college level counseling you can switch your branch but in other branch seats should be empty. Otherwise in second year you can also change branch as well as college. You have to get good result more then or equal to the 8 pointe

No entrance exam is required and you are from another state so you don't need a domicile of Madhya Pradesh.

Yes, you have a chance. But if any other student who has more CGPA than you comes forward, your chance will get slim.

No, there is no entrance exam. Your percentage in Diploma will help you get a college and about the domicile of Madhya Pradesh, I am not sure but there are too many students who are not from Madhya Pradesh like Bihar, Bengal, Odisha, Jammu, Maharashtra, etc.

Industrial engineering is a good branch but the thing that matters is what interests you the most.
If you want to do engineering then you can get admission in top colleges like IPU and JEC. If you don’t like the branch then you can change it in the inter level college counselling.

You need to apply in the respective institute in which you want to take admission.

No, you don't need to give any exam. In lateral entry, admission is done on the basis of your CGPA.

Approximately, most of the colleges charge 10k per sem fees in Jabalpur for B.Com.