A phrase referring to taking the Lord's name in vain. Instead of saying "God Dammit" one might say in a stressful or confusing situation, "Gosh Bangit".
person 1: "We have to go to the store now, so we can't go to the movies...and uh...can we borrow your car? Ours broke down."
person 2: "Gosh Bangit!.....yeah...."