Examples of competitive BS/BM that wouldn't get you in trouble: "Gotcha", "feelsbadman", "rekt", etc. Being excited and expressing that excitement in the form of some light taunting is no big deal.
"GG EZ" is poor sportsmanship, full stop. It is traditional in competition, for as long as organized competition has existed, to shake your opponent's hand and say "good game". You can see it from passive competition like Chess, all the way up to combat sports like boxing (with the obvious exception of when two fighters play up a rivalry by disrespecting each other and talking shit, etc.). Saying "GG EZ" is incredibly disrespectful, because it's essentially telling your opponent that they aren't at all worthy of competing with you. It's not playful. It's about as disrespectful as a taunt can get, without the use of profanity or similar, in my humble opinion.
But even with all that, it only triggers a ban in Riot's system as the icing on a toxic cake. I've never seen somebody punished for only saying "GG EZ", and I'm fairly sure that would be impossible.