The purpose the study is to explore and bring about the benefits and limitations of e-commerce in Indian context. E-commerce has seen unprecedented growth in India in the last decade. According to an ASSOCHAM estimate the size of e-commerce market in India in 2016 was USD 18 billion which is slated to grow to USD 40 billion in 2018 and to gigantic USD 100 billion in 2020. The sheer size of the market tells the success story of e-commerce in India. This study discusses the benefits of e-commerce from the perspectives of business, customer and society in separate section. The limitations or challenges are also discussed from technical and non technical perspective. The methodology used in the study was the content analysis of secondary data from available literature and analysis of different research reports. The main benefits of e-commerce are low cost, any time availability, wider reach, better coordination, time savings, large assortment etc. Though the e-commerce is benefiting the business and society at large there are some challenges and limitations also the main being that of financial security, trust, delivery and human less transaction.