There are two distinct words to be considered, here. Only one of them contains an apostrophe.
Examples: his hat, her skirt, its price, our house, their car, your opinion
Note that there are no apostrophes in any of the possessive adjectives.
Examples:
When he examined the painting, he decided that he liked its colors and design, but not its price. "It's lovely but too expensive," he said to the artist. "It's too bad," replied the artist, "that its price is beyond your means."
Were I but King of Anglophonia
It's Not It's. It's Its.