It's a way of saying something or someone is a good shit. However, instead of saying 'good shit,' you could just say it's the ghit.
When she was getting low, that was the ghit.
by Kidd-Kiddo March 28, 2008
"Google hits" - the number of results returned when a particular Google search is made. The term is often encountered typed on Internet forums.
I Googled myself and got 155 ghits.
by Draeco July 28, 2009