Use it's (with the apostrophe) only when you mean "it is" or "it has." For example: It's time to go. (It is time to go.)It's been a long time. (It has been a long time.) Use its (without the...
"its" is a possessive pronoun when something belongs to 'it'. for example: "this is my action figure. this is its hat""is" is a passive verb: commenting on existence rather than action. For example:"...