The study aimed to understand user perception towards website cookie banners, which are mandatory under GDPR and the factors which are likely to influence their consent for accepting all cookies, to develop recommendations to improve consent mechanisms. Using a quantitative approach, the primary data was collected from 132 internet users residing in the EU region through an online survey questionnaire shared in social media networks. The results showed that the majority of respondents had more than moderate level of awareness about cookies and are more likely to accept cookies for quick access or task completion. Acceptance of cookies was varied across different categories of online activity and given a choice they are more likely to opt-out of 3rd party cookies which is widely used for targeted advertising. This study proposes a framework for Consent for Advertising Directive (CAD) to go beyond the existing Cookie Law which will improve user data protection, and help brands to improve transparency and avoid GDPR violations.