While preparing the squid rings, place a pan on a stove over low heat. Add oil when the pan is hot enough (about 1 inch deep is fine). Let the oil become hot over this low-medium heat because prepping the squid rings might take time.
Add flour, garlic powder, onion, powder, salt, and black pepper in a bowl. Mix and set aside.
In another bowl, add beaten eggs. Set aside.
Dip each squid rings in this order: 1-flour mixture, 2-beaten eggs, 3-panko-style breadcrumbs. (I am not sure, but maybe you can do this quicker? Let me know.)
Fry them in hot oil over medium-high heat until golden brown. Do this in batches and don’t overcrowd the pan. Mine didn’t take more than 2 minutes for each batch.
Let them drain the excess oil by placing them in a strainer or a cooling rack with baking sheet under it. See notes for more details.
Enjoy with your favorite dipping sauce. I had two dipping sauces – (1) mayo-ketchup dip, and (2) tartar sauce.