CMA or MBA, which one is better after B.Com honors?

I think MBA from IIM, ISB, XLRI, MDI Institute will be better for you.

The CMA credential is a good career certification if you want to have career in accounting and financial management. Whereas MBA will give you options for career in various functions beside finance such as marketing, HR, IT, SCM etc. Even if you want to have career in finance and accounting then MBA