Whether carbon removes certain ferts from the water column is a huge long running debate. Personally I've used carbon in planted tanks and never saw any indication any ferts were removed or that plants suffered from nutrient deficiencies.
Carbon can be used to remove chemicals, medications, smells, tannins, and can also polish the water. It only lasts 2 to 4 weeks before it's pores are filled. After this happens it acts as a media for BB to colonize on.