The most common and most likely answer to this crossword clue is the 7 letter word GASHING
I've seen this crossword clue in The Times
G
A
S
H
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More clues leading to the result GASHING
Buddy explains!

The straight part
We know that "Cutting" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case cutting = gashing.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does GASHING mean?
GASHING verb- To make a deep, long cut; to slash.
- The act of making a gash, or cut.
- The roughing operation for worm gears.