Cutting tool used to be returned (3)

I believe the answer is:

saw

Here is my best explanation:

'cutting tool' is the definition.

(I've seen this before)

'used to be returned' is the subsidiary indication.

'used to be' becomes 'was' (I've seen this before).

'returned' is a reversal indicator.

'was' in reverse letter order is 'saw'.

This clue was last seen in The Times

(Other definitions for saw that I've seen before include "Saying; cut wood", "Old saying for woodcutter", "Noticed - tool", "Noticed; cutter", "Cutting blade", "Old saying for wood cutter", "Implement for cutting wood", "Pithy saying", "Perceived visually" and "Toothed blade".)

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