I have taken domain from godaddy.com, and need to map it with VPS,
What are the steps that I need to follow ?
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Easy way to do it is just add the A record to your dns at godaddy pointing your your DO droplet ip.
See: http://support.godaddy.com/help/article/680/managing-dns-for-your-domain-names
Its been some time since I used Godaddy and never liked the screwed up way they do the control panel.
You need to begin with step 2 through this DigitalOcean tutorial page:
https://www.digitalocean.com/community/tutorials/how-to-set-up-a-host-name-with-digitalocean