In a large bowl, combine ½ pound raw calamari rings with ½ teaspoon salt, ⅛ teaspoon freshly ground black pepper and 1 teaspoon garlic powder. Toss to coat evenly.
In one shallow dish, place ½ cup all-purpose flour. In another shallow dish, whisk 1 egg to combine well. In a third shallow dish, place 1 cup panko breadcrumbs.
Dredge the calamari rings in the flour, shaking off any excess. Dip each ring in the beaten egg, allowing any excess to drip off. Finally, coat the rings completely in the panko breadcrumbs, gently pressing to ensure they adhere.
Heat 2 cups frying oil (or as needed) in a medium skillet, saucepan or deep fryer to 350°F (175°C). You can use a thermometer to monitor the temperature.
Working in batches, carefully add the breaded calamari rings to the hot oil. Fry for 2-3 minutes per batch, or until golden brown and crispy. Avoid overcrowding the pan, as this will lower the oil temperature and result in greasy calamari.
Using tongs or a slotted spoon, carefully remove the cooked calamari rings from the oil and transfer them to a plate lined with paper towels to drain excess oil.
Serve immediately with your favorite dipping sauces like ketchup, tartar sauce, spicy aioli or barbecue sauce.