New package java.time addresses the shortcommings of old date and time in java.util package.

java.time package provides following features out of box, including but not limited to:

• Simpler and flexible creation of objects
• Thread-safety through its immutabile classes
• Method chaining in functional programming style for complex transformations
• Better representation of dates in time zones and chronologies
• Truncation of values in any field of dates and times
• Flexible parsing and formatting of dates and times
• Interoperability with old Java dates and times

java.time package encompasses versatile representations of use cases related with date and timing. Majority of them are listed below:

• LocalDate – a simple date (year, month, day)
• LocalTime – time with nanosecond precision and without date info
• LocalDateTime – same as LocalDate, but includes time with nanosecond precision
• ZonedDateTime – same as OffsetDateTime, but includes a time zone ID
• OffsetDateTime – same as LocalDateTime, but with time zone offset
• OffsetLocalTime – same as LocalTime, but with time zone offset
• Instant – represents a point in time (timestamp)
• MonthDay – month and day, without year or time
• YearMonth – month and year, without day or time
• Duration – time period represented in seconds, minutes and hours with nanosecond precision
• Period – time period represented in days, months and years
• ZoneId – time-zone id and used to convert Instant and LocalDateTime