the question "when" is a general question asking about time. Normally, this question is answered by:
a day of the week (on monday, on friday, etc)
a month (in December, in March)
a year (in 2010, in 2011, in 2012)
or "yesterday, "later", "last night", "tonight"
The question "what time" is more specific, normally you will expect an answer at what time of the day or as specific as "at seven in the morning, at nine in the evening or at 5:15 in the afternoon."