It is. You must first set the gsm module in text mode, then call for "AT+CCLK?". The response can be stored in a string. Then, you must parse the string with year, month, day, hour, minutte, secound to variables. Since you have 2560 mega, avoid using software serial.
Sidenote:I use simcom 7000 myself, it have gps reciver. So once in the day, it get the gps time and set a ds3231 rtc. I minimize sending at commands to my simcom 7000, so it is always ready to recive and send sms messages, performing various tasks.