Inside story appropriately placed, doubly so (7)

I believe the answer is:

lowdown

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'so' is the definition.
Both the answer and definition are adjectives. Perhaps you can see a link between them that I can't see?

I don't understand how the rest of the clue works.

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(Other definitions for lowdown that I've seen before include "news" , "Data" , "facts" , "base" , "confidential information" .)

I've seen this clue in The Guardian.

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