Internet services have become an important part of the daily life for a large number of people, and often deal with varying amounts of personal information. A privacy policy is a legal document governed by territorial laws that outlines the collection, usage, storage, and sharing of personal data. A known problem with such documents is its ambiguity and difficulty in comprehension for end users. The General Data Protection Regulation (GDPR) requires transparency regarding the provision of such information to the data subject through its various obligations and rights. We propose a remodelling of the privacy policy based on provision of relevant information regarding personal data specific to the user. Such a policy will dynamically reflect the state of activities over personal data using a legal and comprehensive document, and can be used as a tool for the provision of rights and requests from data subjects. We support our discussion with an example use-case of a GDPR-based privacy policy adopted from online services. We present our analysis on identifying changes and our approach towards the representation and creation of such dynamic policies.