what is difference between its and it's

Its - This is a possessive adjective.It's used to show possession. For ex:- Its ears are big. It's - The abbreviation form of "it is". Ex:- It's mine. Or, It is mine.

"Its" is a Possessive Pronoun and "It's" is the short form of "it is". Its :- Ex :- The dog us licking its limbs. It's :- Ex :- It's a nice pet.