Story about alcoholic drink and soft drink (7)
I believe the answer is:
limeade
'soft drink' is the definition.
(I've seen this before)
'story about alcoholic drink' is the wordplay.
'story' becomes 'lie' (story can mean a fabrication).
'about' means one lot of letters goes inside another.
'alcoholic drink' becomes 'mead' (I've seen this before).
'lie' going around 'mead' is 'LIMEADE'.
'and' is the link.
(Other definitions for limeade that I've seen before include "Winter festival" , "soft drink" , "Non-alcoholic beverage" , "Fizzy drink" , "it's a soft one" .)