When something backfires, or karma, "a taste of your own medicine" refers to a time a person has done something bad and the same thing happens to them. For example a guy tries to break into a house and the next day his house gets broken into, he gets " a taste of his own medicine".

SImilar expressions would be like "get what's coming to them", "what goes around comes around", "karma's a bitch"

we here say something sound more or less "repay you with same money"

To me, It means when someone tricks you and you want to fire back, by showing him how does it feel to be tricked this way.

Yes, I agree with the previous answer.

It can be for serious offenses or criminal acts, and also giving and receiving bad attitudes.

For instance, GIVING someone "a taste of their own medicine" is taking revenge. When you intentionally mistreat someone in the same way they have mistreated you, and they don't like it.

I personally don't agree with taking revenge, in any form.