The concept of time is to be found in the entire creation. 

The concept of time as we all know by now differs with each celestial body, hence a day is 24 hours on Earth, but it is longer on Mars, for example, and so it goes on for all the celestial bodies. In the finer areas of matter, for example in medium gross matter, fine gross matter and ethereal matter, time moves faster because these go through faster rotations and as such the days are much shorter and so is the year.

So time is actually relative and depends entirely on the velocity or speed with which each celestial body is rotating along its own axis and also around a particular star in the relevant solar system.