Ref. No. 1408/42-836
In the name of Allah the most Gracious the most Merciful
The answer to your question is as follows:
Yes, it is allowable. You should note that it is not allowed to put the Quran directly on the floor as we are obliged to respect the holy Book. But putting the bag which contains the holy Book on the floor is not considered as disrespecting the Quran. However one should not put the holy Quran on the floor even if it is packed in bag; it seems against its etiquette.
And Allah knows best
Darul Uloom Waqf Deoband