No shit - usually used sarcastically, as in, obviously
Dumb shit - dumb person
Shit happens - bad stuff happens.
Bullshit - when someone says 'Bullshit!' it means they assume the person they're talking to is lying, bullshit means 'Lies'.
The shit - good stuff.
Shit! - used in exclamation, to show surprise, disappointment, anger, disbelief, you get the drift.
Jackshit - don't know how to define it. But when someone says 'you don't know jackshit' it means the person doesn't know anything.
Shit - it can mean stuff. In the most literal way I can think of that is used today, it means excretions and stuff. Poo. Crap. Whatever you call it.
'I scored 18 goals.'
'Black Sabbath is the shit!'
'Shit! I lost my phone.'
'Shit! No way!'
'Shit, what the hell is going on?'
'Shit. We lost.'
'You didn't hear jackshit!'
'There was a huge pile of shit in the toilet.'
'Birdshit stained the car window.'