literature vs lit

literature and lit both are nouns.

Word	Noun	Adjective	Verb	Adverb
literature	Yes	No	No	No
lit	Yes	Yes	No	No

As nouns, literature and lit are synonyms defined as:

literature (noun)	lit (noun)
the profession or art of a writer	the humanistic study of a body of literature
the humanistic study of a body of literature
creative writing of recognized artistic value
published writings in a particular style on a particular subject

literature (adjective)	lit (adjective)
	set afire or burning
	provided with artificial light