Cut both blocks of SACH paneer into 8 uniform strips, and set aside. Whisk together flour, cornstarch, salt, garlic powder, onion powder, and a few turns of fresh cracked black pepper in a medium mixing bowl. Stir in beer until mixture is the consistency of a thin pancake batter. Add panko to a separate bowl.
Heat oil on medium-high until it is 365℉. One at a time, dip each strip of paneer into the beer batter, allowing any excess batter to drain back into the bowl as you remove it. Place in panko and turn cheese until all sides are coated.
Add battered cheese to hot oil, and cook on each side for 2-3 minutes, or until golden brown. Do not add more than 4-5 pieces of paneer to the pan at a time. Once cooked, place the paneer on a wire rack or a few sheets of paper towel to drain.
For the dip: Mix all the ingredients except the chili flakes and top it with chili.