The phrase "have it" has different synonyms depending on the context in which it is used. For instance, 'possess' is a synonym for 'have it' when used to imply ownership. 'Experience' is also used to replace 'have it' especially when talking about intense moments such as a party or a vacation. When used to refer to an argument or disagreement, the slang term 'beef' comes in handy as a synonym. 'Undergo' is another synonym for 'have it', which denotes to experience or endure something. 'Have a grasp of' and 'comprehend' are also used to replace the phrase when referring to knowledge or understanding of something. The right synonym for "have it," therefore, depends on the context and intended meaning.