Excellent spirit that can remove nail polish (7)

I believe the answer is:

acetone

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'can remove nail polish' is the definition.
I can't judge whether this definition defines the answer.

'excellent spirit' is the wordplay.
'excellent' becomes 'ace' (I've seen this before).
'spirit' becomes 'tone' (synonyms).
'ace'+'tone'='ACETONE'

'that' is the link.

Can you help me to learn more?

(Other definitions for acetone that I've seen before include "Inflammable liquid" , "Industrial solvent" , "chemical is the solution" , "Remover of nail polish" , "Volatile stuff" .)

I've seen this clue in The Hindu.

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