As a physical enitity - the ovewhelming scientific agreement is that time does exist however its existence is relative in nature like that of many other physical quatities with the exception of the speed of light (the only constant in the physical universe).

Infact the process of ticking of time is so dependent on the speed of light that the more one approaches the the 3 x 100 million m/s (speed of light) the slower the ticking process occurs. Infact if one is able to to reach this speed of light - scientists believe that time will come to stand still (and the concept of time as we know it will cease to exist). However there are physical limitations which makes it next to impossible to reach the speed of light.

Above is what Einstein concluded when he put forward the theory of relatiivity.

Scientist are also of the opinion that time came into existence during the big bang we the universe opened the 4 physical dimensions. Three of space and one of time.

A simple answer to your question is that time does exist in the state tht we live in and not only does it exist qualitatively but it can also be quantified.

regards flow-unclever