Fine drink, with second consumed? Not so (5)
I believe the answer is:
false
'not so' is the definition.
(I've seen this in another clue)
'fine drink with second consumed?' is the wordplay.
'fine' becomes 'f' (abbreviation).
'drink' becomes 'ale' (type of beer).
'with' is a charade indicator (letters next to each other).
'second' becomes 's' (common abbreviation).
'consumed?' is an insertion indicator.
'f'+'ale'='fale'
'fale' placed around 's' is 'FALSE'.
(Other definitions for false that I've seen before include "Fake; untrue" , "Erroneous" , "Invalid; untrue" , "Not in accordance with fact" , "Mendacious" .)