Heat oil to 375 F in deep fryer, cast iron skillet or Dutch oven. Mix together flour, sugar, baking powder, nutmeg and salt. In a separate bowl, beat together eggs and milk. Stir milk mixture into flour mixture, mixing just until smooth. Dip a few slices of apple at a time into the batter, coating them completely, then gently slip into the oil. Cook a few at a time for a 30 seconds to a minute per side, flipping with tongs as necessary, until golden brown. Be careful not to crowd the fritters while cooking, this will reduce the temperature of the oil and increase cooking time. Drain cooked fritters on paper towels. Dust with powdered sugar.