Where did you see it? Try to include context in your questions so we can give you a good answer. We Americans never say "that's got it"... It means "That has got it", but we usually say "That got it". and you might say this if you were trying to 'get' or 'do' something, and it finally worked, you'd say "that got it!" .... like if you were trying to fix something but whatever you were trying wasn't working... then you finally fixed it, you can say "that got it!" which means "that did it!"