Running GAMS in the background of Excel is totally possible. However, it is a challenging task which needs programming both in VBA (Visual Basic for Applications), the language behind Microsoft Office products like Excel and GAMS itself.
It is basically much more different from reading some data from or writing the data to an Excel file. General necessary steps are:
Co-locating your GAMS and system path directories.
Duplicating your model to a temporary directory.
Reading the data from Excel Spreadsheet and converting the format to .gdx.
Running the model and writing the solution as a .gdx file.
Yes, Sure. Attached is the link to McCarl GAMS User Guide where you can find an example related to transportation problem in which GAMS is being called from Excel and solves the problem in background.