Dazed state after consuming hot slice (7)
I believe the answer is:
tranche
'slice' is the definition.
(I've seen this before)
'dazed state after consuming hot' is the wordplay.
'dazed state' becomes 'trance' (I've seen this before).
'after consuming' indicates putting letters inside.
'hot' becomes 'h' (abbreviation eg on taps).
'trance' enclosing 'h' is 'TRANCHE'.
(Other definitions for tranche that I've seen before include "Instalment of e.g. loan" , "Slice (of income)" , "issue of shares, perhaps" , "instalment of shares" , "Block of shares, say" .)