This work develops the concept of time as a physical, dynamical quantity within the Relativistic Coherent Vacuum Gravity Theory (rCVGT). In this framework, time is not defined geometrically, but arises from the coherence state of the vacuum, described by a coherence amplitude, a coherence parameter, a vacuum-flow field, and a time-rate field. Variations in these fields generate temporal flow, gravitational behaviour, and inertial responses. The paper shows how gravitational time dilation, early-universe evolution, cosmic expansion, and horizon-scale temporal suppression follow naturally from vacuum-coherence dynamics. Black holes are interpreted as regions of high vacuum coherence where physical time becomes strongly suppressed. Overall, the work presents a physically motivated alternative to geometric time in General Relativity and offers observationally testable predictions across cosmology, astrophysics, and precision timing.