Crossword Genius

Ring doesn't fit where one's nose is proverbially kept (10)

Ross

I believe the answer is:

grindstone

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'where one's nose is proverbially kept' is the definition.
Although both the answer and definition are singular nouns, I can't understand how they can define each other.

'ring doesn't fit' is the wordplay.
'fit' indicates an anagram (letters fitted or arranged in a different way).
'ring'+'doesnt'='ringdoesnt'
'ringdoesnt' with letters rearranged gives 'GRINDSTONE'.

Can you help me to learn more?

(Other definitions for grindstone that I've seen before include "Disc for sharpening knives" , "hard work" , "Tool sharpener" , "sort of disc" , "nosing here?" .)

I've seen this clue in the Sydney Morning Herald.
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