What is its form?
It's=it is a subject-predicate structure. It's short for it, yes.

Its is an adjective possessive pronoun or a noun possessive pronoun. It means.

it is

This is the best news I have heard for a long time. ?

This is the best news I have heard for a long time.

I haven't played for a long time. ?

It's been a long time since my last performance.

I think it's my turn. ?

I think it's my turn to treat.

I always forget that it is December. ?

I always forget that it is 65438+ February.

I think big families are rare now. ?

I think there are few big families now.

? its

The British Labour Party concluded its annual meeting in Brighton today. ?

The annual meeting of the British Labour Party closed in Brighton today.

The dog looked up and listened?

The dog looked up and listened.

I met a woman whose baby had just died, and her other child was still struggling to survive. ?

I met a woman whose baby just died and another child was dying.

All parties have expounded their positions on this issue. ?

The parties expounded their respective positions on this issue.

The company raised the price of cars?

The company raised the price of cars.