A bit of a refresher -- the NBA vet was outspoken after Megan Thee Stallion accused Tory of shooting her in July ... saying, "This clown shoots a female and ya’ll listening to his music."

"TF Tory Lanez," J.R. added. "You a straight clown. Facts. And tell whoever to hit my line. It’s whatever.”

Fast forward to Thursday night ... when Tory addressed ALL accusations and negative comments made against him since the alleged incident -- including Smith's jab -- on his track, "Sorry, But I Had To..."

Here are the lyrics about Smith:

"J.R. Smith, it's the pot that piss ... And you the last cat that should talk about some shots that hit."

"'Cause your performance and percentage, player ... Rollin', ridin' benches, n***a, I'm from the trenches, n***a."

"You the type to buy a chick a eighty and ya still won't get a inch up in her."

Smith -- fresh off the Lakers' 114-108 win over the Denver Nuggets -- heard Tory's bars loud and clear ... and fired right back on his Instagram story.

"i got time today too! 🤣🤣," J.R. said. "bout to get real 🌶🌶"

There's more ... "He not even 30 stay in ya place lil ass boy."

"bust ya gun at a female you all types of 🤡"

FWIW -- 5'3" Tory also denies Meg's shooting claims ... but we know where Smith stands on that issue.