Damage shower and carpeting — not new — ruined (5,3)
I believe the answer is:
price tag
'damage shower' is the definition.
(I've seen this before)
'carpeting not new ruined' is the wordplay.
'not' suggests deleting specific letters.
'new' becomes 'n' (common abbreviation eg NT for New Testament).
'ruined' indicates an anagram.
'carpeting' with 'n' removed is 'carpetig'.
'carpetig' is an anagram of 'PRICE TAG'.
'and' is the link.
(Other definitions for price tag that I've seen before include "Amount to be paid" , "Shop goods label" , "Label indicating cost" , "What a ticket may show" , "damage shower" .)