Availment of cenvat credit for two different services

BILAL CHAUHAN (Chief Finance Officer) (64 Points)

05 September 2016  
Dear Experts, Our company is involved in real estate development business and has obtained service tax registration under "Construction of residential complex" service. We are availing CENVAT credit available on input services like Architect/Engineer fees, Works contract etc and adjusting the same against service tax payable on flat bookings. But now our company has entered into an agreement with a telecom company to lease them space for installation of tower equipments in one of our project building. Will the CENVAT credit generated out of construction activities can be adjusted against service tax payable on "Renting of Immovable Property" where the CENVAT Credit and renting income pertains to the same project building?