No, it's back - round at the depot (7)
I believe the answer is:
station
'the depot' is the definition.
(I've seen this before)
'no it's back round at' is the wordplay.
'back' shows that the letters should be reversed in order.
'round' is an insertion indicator.
'no'+'its'='noits'
'noits' in reverse letter order is 'stion'.
'stion' going around 'at' is 'STATION'.
(Other definitions for station that I've seen before include "Broadcaster" , "camp?" , "Broadcasting channel" , "Small military base" , "Train stop" .)