In a large mixing bowl, combine all-purpose flour, granulated sugar, brown sugar, and baking powder. Create a well in the center and add milk and beaten eggs, stirring until smooth.

Cover the dough with plastic wrap and refrigerate for at least 1 hour.

Dust the countertop with flour, roll out the dough to about ½ inch thick, and cut out donut shapes using a donut cutter.

Heat oil to 350°F. Fry donuts for 2-3 minutes on each side until golden brown.

Transfer the donuts to a paper towel-lined plate to drain excess oil. Fill each donut with caramel sauce.

Serve fresh or store in an airtight container in the fridge for up to 3 days.