Hi, I have 6 years of experience in IT filed as software engineer and posted in USA since last 2 years on L1 visa, i am planning to do MBA from here, what are my options, how does the visa affect?
Have started preparing for GMAT, is there options to get MBA degree without GMAT?

Do your GMAT. You'll get into a much better MBA. Your L1 visa won't influence what sort of MBA you get into, but of course you will move onto a student visa.

Thanks Duncan, 1 more query, will my 2 years of US experience will benefit me extra ?

It makes you a more attractive MBA candidate.