Hello,
With a GATE score of 480 , rank 2998 , and OBC-NCL category in EE , you have chances in some NITs, IIITs, and good state government colleges for M.Tech. Getting into IITs might be difficult, but newer or lower-ranked IITs may consider you in some interdisciplinary branches.
For jobs , some PSUs recruit through GATE , but for top PSUs, your score might be low. You can still apply for state government jobs, private companies, and research fellowships that accept GATE scores.
Since you are in third year , your score will be valid for next year also. You don’t need to apply for admission this year. In your final year (next year), you need to apply for COAP (for IITs) and CCMT (for NITs, IIITs, etc.) .
Right now, no forms are required . Just focus on improving your score if you want better IITs or PSUs next year.
Hope it helps !
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