1
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Drop the subject, ignore the matter, as in I don't understand what you mean.? Oh, skip it for now. This interjection uses skip in the sense of "pass over." [Colloquial; c. 1930]
American Heritage Idioms
2
general::
Phrase(s): Skip it!
Inf. Never mind!; Forget it! (Shows impatience or disappointment.) • John: I need some help on this project. Mary: What? John: Oh, skip it! • Jane: Will you be able to do this, or should I get someone with more experience? Bob: What did you say? Jane: Oh, skip it!
McGrawhill's American Idioms And Phrasal Verbs