as per the Intellij site, the community version does not support the spring and other J2EE frameworks. But I can create a new spring maven project, import in community version IDE and can start development.My question is what are the advantages of ultimate edition and what are the limitations of the community IDE if I start a spring project with it?
There is no limitations, but there are "bonus" features that you won't have with the community version. I do use the community edition for my projects, and it works perfectly just like that.
Here is a list of spring/springboot bonus features that you can have with ultimate edition.