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Due to the issues of climate change and global warming, the transportation industry is gradually shifting from the usage of hydrocarbon fuels to electricity. The Electric Vehicles are uses battery to store the energy with is subsequently used to convert into mechanical energy while driving the vehicle. Similarly, Microgrids are used in distribution system that adds renewable energy sources along with the loads. The batteries of the Electric vehicle (EVs) can be possibly used as energy storage and buffering devices inside the microgrids (MGs) or parking space of buildings. These EVs can help in managing the microgrid energy balance under two circumstances, viz. surplus generation it can store the excess energy as the Grid-To-Vehicle, G2V mode by charging of the batteries and during energy deficient in the MG it can provide energy back to the grid by working as Vehicle-To-Grid, V2G operation as discharging of the batteries. To facilitate these concepts proper development of inter-connecting infrastructure and control system arrangements have to be done. This paper provides a literature survey on various architecture for realizing the V2G-G2V strategies within a MG by studying different types of power electronics interfacing (PEI) like level-1, level-2, and level-3 acting as fast charging stations for the EVs are presented. Maintaining the power balance state and improving the reliability of the intermittent renewable energy sources (RESs) MGs using proper PEI is a critical task. [ABSTRACT FROM AUTHOR]